If deregulation instigated by the spreads across the pond... Maybe Brexit won't be so bad after all
Long term long bias
Please see annotated chart for details.
uk.tradingview.com LSE:LLOY LLOYDS Banking Group appear to be towering higher. However, today we await confirmation above 67.951 to confirm 74.840 as objective target. Below 62.121/60.725 and 59.362/59.179 support zones is needed to confirm extension of current price correction to 54.791/54.209 zone. Happy Trading!!
First it was the bullish price RSI divergence and now we have a confirmation of the breach of the falling trend line on the weekly chart. The weekly 50-MA is bottoming out as well. The stock appears on track to test 70.00 levels. Bullish invalidation is seen only if the stock closes on Friday below the weekly 50-MA level of 61.53.
if 66.21 breaks near term target towards 70.925 will occur. However, if support term 64.55 is breached below, then near term targets of 62.8 and then potentially 61.8 will occur I don't buy the rise! Ftse Is extremely overvalued IMO on current forecast increases on no valid thesis'.
Alligns with fundamentals
Co has been looking positive in recent times but may retrace after looking overstretched and meeting a level where internal trendlines and the main downtrend line confluence.
Lloyds has had a very strong decline since it's heights from around 2000 when is was around 600p and never recovered. It has been in a corrective structure since 2009 which appears to be an ascending triangle implying that the next move would be to continue down. We won't be making a short trade on this one however as the pattern isn't very clear and it also...
Looking to take this up. Cutting jobs and decent future prospects after a look to move to further digitization.
Last week -hopefully not the last week :-( the attempt to turn up broke down.